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Question - Austin Fisher contributed land, inventory, and $28,000 cash to a An unincorporated business form consisting of two or more persons conducting business as co-owners for profit.partnership. The land had a book value of $60,000 and a market value of $110,000. The inventory had a book value of $73,000 and a market value of $67,200. The partnership also assumed a $43,000 note payable owed by Fisher that was used originally to purchase the land.
Required - Provide the journal entry for Fisher's contribution to the partnership. If an amount box does not require an entry, leave it blank.
Discuss the following concepts comparing the GAAP to the IFRS. How do they relate to the practice of accounting and its uses in business?
carr company produces a single product. during the past year carr manufactured 30420 units and sold 24900 units.
Highlight, Inc., owns all outstanding stock of Kiort Corporation. Determine the balances that should appear on a consolidated income statement for 2013
a companys current net operating income is 32480 and its average operating assets are 112000. the companys required
what is sunk cost? under what circumstances are sunk costs relevant to a decision? provide an example of a sunk cost.
Prepare a condensed income statement for the ear on both bases for comparative purposes
Find the Direct labor efficiency variance, If the given values are such as Actual hours used 45,000, Actual rate per hour $15.00.
A firm reports EBIT of $100 million. The income statement shows depreciation of $20 million. If the tax rate is 35% and total capital expenditures and increases in working capital total $10 million, what is the free cash flow to the firm?
Problem - Miscellaneous costs associated with the purchase of new equipment include: What is the amount assigned to the new equipment
Prepare a horizontal analysis of the balance sheet data for Conard Corporation using 2011 as a base
Prepare the appropriate journal entries to record compensation expense on December 31, 2016, 2017 and 2018.
happy trails inc. has a september 1 accounts payable balance of 525 which consist of 340 due labradore inc. and 185 due
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